I remain very bearish on USD/CAD for the simple reason that the rest of the market is irrationally ueber-bullish. Pairs like GBP/CAD have been favourite positions for months with professional traders and if/when they turn there will be a massive clean-out.
Overnight price action has done nothing to change my view with a sharp and unrelenting 70 pip dip.
I’m already short and am looking for opportunities to add to the position (although not during Asian trade when it never moves).